Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
How does credit card debt affect a mortgage application? Apr 7th
If you’re shopping around for a mortgage, you probably already know that lenders ask for a ton of financial information before determining how much you can borrow. That list includes your household income, down payment amount and how much you owe—including credit card debt, car payments and unse.... More »
New Year, New Mortgage Rules: Why You’ll Soon Have a Harder Time Qualifying for a Mortgage + MORE Dec 21st
Come January 2018, new Ontario mortgage applicants likely won’t be able to afford the same home they’ve set their eyes on this year, as they will be subject to new and stricter mortgage rules, posed by the Office of the Superintendent of Financial Institutions Canada (OSFI) and published in the.... More »
Bond Yields are up… will Fixed Mortgage rates follow? + MORE May 16th
Fixed mortgage rates are tied closely to the Govt of Cda bond yields. And bond yields are up… Since mid April, the 5 yr Gov of Cda bond yield has gone from 0.75% to 1.07%. That’s a 0.32% jump. Normally, we would see fixed mortgage rates go up. So far, no increase. […].... More »
RBC bracing for renewal impact: three quarters of its mortgages to see higher rates by 2026 Dec 4th
Despite interest rates having been elevated for over a year, Canada's largest bank said the bulk of the impact is yet to be felt with nearly three quarters of its mortgage portfolio coming up for renewal over the next three years..... More »
The Latest in Mortgage News – The Stats Are In Apr 30th
There have been a number of reports released over the past few weeks that have provided some interesting insight into the state of the housing and mortgage markets. New reports have touched on everything from 2018 renewal rates, foreign buyer statistics and credit quality to the latest financial cru.... More »
Dominion Lending Centres Canada – 5 year Closed : 3.49% (-0.05%)
– ratesupermarket.ca
Dominion Lending Centres Canada 5 year Closed mortgage rate was changed on November 13, 2013
Sullivan Mortgage Group – 3 year Closed : 2.84% (-0.35%)
– ratesupermarket.ca
Sullivan Mortgage Group 3 year Closed mortgage rate was changed on November 03, 2013
True North Mortgage – 5 year Closed : 3.29% (0.15%)
– ratesupermarket.ca
True North Mortgage 5 year Closed mortgage rate was changed on November 15, 2013
Will CMHC Risk Fees Hurt Home Buyers?
– ratesupermarket.ca
Last Friday, it was announced the Department of Finance is implementing further measures to minimize taxpayer risk posed by the Canadian Housing and Mortgage Corporation, the Crown entity that provides high ratio home buyers with mortgage default insurance.
As of January 1, 2014, the CMHC must pay the Canadian government 3.25 per cent of their high-ratio mortgage insurance business, and 10 basis points (0.10 per cent) of their low ratio portfolio. Based on their Q3 results and projected future numbers (the CMHC currently ensures $560 billion in default insurance), it is estimated these new CMHC risk fees will cost $50 million annually.
However, the CMHC assures home buyers that a credit crunch isn’t in the cards, as the fees aren’t expected to cut into their bottom line. “We certainly don’t anticipate it to have any impact on the availability of mortgage funding, so we don’t see it as a material event,” said CMHC Chief FInancial Officer Brian Nash in a statement to reporters…
Wallison: Get Ready for the Next Housing Bubble
– online.wsj.com
Mel Watt is a long-time champion of mortgage quotas for affordable housing. Here we go again.
